Products January 15, 2025

Prudential, Dimensional Fund Advisors, FIDx Announce Product Partnership

The collaboration will allow for protected lifetime income strategies to be added to managed accounts via the FIDx Insurance Overlay marketplace.

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Prudential Financial Inc. has collaborated with Dimensional Fund Advisors L.P. and Fiduciary Exchange LLC to introduce protected lifetime income strategies to managed accounts through the latter’s FIDx Insurance Overlay marketplace.

“Working with Dimensional and FIDx to bring protected lifetime income strategies to managed accounts is a key step in advancing Prudential’s commitment to expanding access to retirement security for more people,” Ann Nanda, head of future growth initiatives at Prudential Retirement Strategies, said in a statement.

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Nanda highlighted that this collaboration builds on Prudential’s existing offerings, such as the MyRock Advisor Variable Annuity, available to registered investment advisers through FIDx’s broker/dealer.

The new partnership also extends Prudential’s relationship with Dimensional, which includes incorporating a Dimensional index into the FlexGuard registered index-linked annuity suite and adding a Dimensional index to the SurePath suite of fixed-indexed annuities. FlexGuard and SurePath are Prudential products.

“We look forward to working with Prudential and FIDx to bring our well-diversified, low-turnover systematic strategies to more retirees and their advisers nationwide,” Savina Rizova, co-chief investment officer and global head of research at Dimensional, said in a statement.

The FIDx Insurance Overlay marketplace serves as a bridge connecting insurance carriers, wealth management platforms and advisers. By integrating insurance-based solutions into one platform, advisers can efficiently manage these options.

“Our Insurance Overlay marketplace lets advisers easily add longevity, income and protection directly to a managed account, enabling them to remain focused on helping clients achieve their retirement goals,” FIDx CEO Rich Romano said in a statement.

Deals & People January 15, 2025

OneDigital Acquires Nonprofit HR Solutions, Fueling Expansion

The acquisition is OneDigital’s first in the nonprofit sector.

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OneDigital, an insurance brokerage, financial services and human resources consulting firm, has expanded into the social impact sector through its acquisition of Nonprofit HR Solutions LLC.  

Nonprofit HR Solutions, founded in 2000 by President and CEO Lisa Brown Alexander, specializes in meeting HR needs of the social sector. The firm serves nonprofits, associations, social enterprises and other mission-driven organizations. It offers expertise in organizational strategy, HR outsourcing, total rewards and search, as well as in people management. 

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“For nearly 25 years, Nonprofit HR has proudly stood as a trailblazer in reimagining how mission-driven organizations approach their people and talent strategies,” Alexander said in a statement. “As a leader dedicated to advancing social sector impact, I am excited to embark on this next chapter with OneDigital.”  

Mike Sullivan, OneDigital’s chief growth officer, noted the scope of the nonprofit sector, noting that it employs nearly 12 million people nationwide, making it the third-largest employment sector in the country. 

“Attracting Nonprofit HR’s deeply networked and highly credentialed cadre of talent, and their profound understanding of the nonprofit sector’s unique challenges, combined with OneDigital’s integrated solutions across employee benefits, retirement and financial planning, creates immediate value for the client communities both firms serve today,” Sullivan said in a statement.  

Frank Zugaro, national vice president of retirement solutions at OneDigital, highlights the firm’s existing work in the nonprofit sector. He says nonprofits have long been one of OneDigital’s top client sectors, with more than 1,800 nonprofit organizations relying on the firm across HR, benefits, retirement and additional solutions.  

“The acquisition of Nonprofit HR represents a significant step in our vision to build a dedicated nonprofit vertical and solidify our position as the advisor of choice for nonprofit and social impact organizations,” Zugaro says.  

According to OneDigital, the partnership also supports the firm’s diversity, equity, inclusion and belonging growth strategy by prioritizing women- and minority-owned businesses. 

OneDigital (officially Digital Insurance LLC) has actively expanded its services through acquisitions. In 2024, the firm acquired Elite Insurance Solutions, Legacy Asset Management and WealthSource Partners. 

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